In 2025, the cryptocurrency landscape has seen significant changes, with notable successes among stablecoin companies and major incumbents. Venture capitalists from firms like Pantera, Hash3, and Variant highlighted these trends during a recent podcast, reflecting on the past year of regulatory shifts.
According to Mason Nystrom from Pantera Capital, companies like Robinhood have thrived by adapting to a clearer regulatory framework. This shift has allowed Robinhood to become more proactive in its crypto initiatives after a period of caution. Hootie Rashidifard from Hash3 pointed to the profitability and growth of stablecoins, emphasizing that Tether has emerged as the most profitable company globally on a per-employee basis.
Furthermore, Alana Levin from Variant noted the rise of prediction markets, with platforms such as Kalshi and Polymarket gaining momentum and attracting investments, including a notable $2 billion from the Intercontinental Exchange.
Conversely, the year has also seen significant setbacks for some individuals in the sector. Do Kwon, co-founder of Terraform Labs, was identified as a major loser, having been sentenced to 15 years in prison for his role in the Terra collapse.